Do you think this will lead to a slump in the SP once the money has been returned as they are returning the cash because there is not much to buy with it at the moment. What will they do if 'bargains' suddenly appear in 6 months?

gbalin wrote:Do you think this will lead to a slump in the SP once the money has been returned as they are returning the cash because there is not much to buy with it at the moment. What will they do if 'bargains' suddenly appear in 6 months?

Yes, I expect a fall in share price. Much as one would like to have ones cake and eat it!

If 'bargains' suddenly appear, then I would very much hope and expect that the management has contingency borrowing plans.

Was looking at it briefly last night and couldn't make sense of the drop compared to the headlines - profit more than doubled despite being a much smaller company since the return of capital. Haven't had time to delve into the figures in detail yet but it looked positive, so am a bit puzzled. Tempted to add to my position which had previously been quite high but is now much smaller following the open offere and then the return, but will wait till I have time to dig further.